Lithium Australia NL (ASX:LIT)

Hi Guys,

Anyone taken a look at this stock or is holding?

Seems like they might be on to a winner :

Lithium Australia recently commenced pilot testing of its 100% owned lithium extraction process, Sileach™, at the ANSTO Minerals facility in New South Wales.

The first test will consist of a 24 hour commissioning run of the circuit.

The results will then be examined prior to commencing continuous operations in about two weeks.

Pilot testing will lead to a decision being made to proceed with construction of a larger-scale pilot plant, for which Port Hedland is currently the preferred location.

Lithium Australia recently won its second grant, this time from the federal government to support the commercialisation of its Sileach™ process.


Definitive feasibility study

Data generated from operating the large-scale pilot plant will be used for feasibility investigations into the construction of a full-scale commercial Sileach™ processing plant.

In the event of a positive outcome of the definitive feasibility study, a joint venture between the company and Pilbara Minerals Ltd(ASX:PLS) will advance to commercial production, including finance and construction, on a 50/50 basis.

The study is due for completion in Q4, 2016 which will lead to deciding whether to proceed to a continuous, site-based pilot plant in Q1, 2017.